JSE challenger hits 175 listings

A2X Markets has reached 175 instruments listed on its exchange, with the latest, Mpact, listing on Tuesday, 11 February.

A2X is a secondary stock exchange in South Africa that offers an alternative trading venue for companies already listed on the JSE, but it does not facilitate primary listings.

Therefore, while not a pure competitor, A2X challenges the JSE on factors like trading costs and attracting big-name listings already on the JSE.

Mpact is a leading paper and plastic packaging and recycling business. Its listing on Tuesday brings the number of instruments available for trade on A2X to 175, representing a combined market capitalisation of approximately R10 trillion. 

Mpact joins a prestigious group of companies listed on A2X, including AngloGold Ashanti, Aspen, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Prosus, Remgro, Sanlam, Sasol, and Standard Bank.

Mpact will maintain its primary listing on the JSE, and its issued share capital will remain unaffected by this secondary listing.

The company operates in Southern Africa, where it is the largest paper and plastics packaging and recycling business, employing over 5,000 people.

A2X said Mpact’s strong customer relationships, thorough understanding of its industries, and commitment to innovation allow it to continue creating fit-for-purpose sustainable packaging solutions and value-added services.

It is also South Africa’s largest collector of recyclable packaging materials, having collected 594 million/kg of recyclables from pre- and post-consumer streams in 2023. 

By closing the loop on paper and plastic, Mpact not only reduces the amount of material going to landfills but also promotes the local beneficiation of raw materials and supports the development of SMMEs.

“We are delighted to welcome Mpact to our market today and look forward to offering its investors an additional platform for trading shares,” A2X CEO Kevin Brady said. 

“A2X provides numerous benefits, including additional liquidity and reduced transaction costs.”